EQR eq resources limited

I cant wait to see the revised resource and updated BFS for...

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    I cant wait to see the revised resource and updated BFS for further details on the value of what we have in the ground.

    If you refer to the Nov 9 announcement of the previously revised BFS on page 14 you will note the increase in MTU's from approx 6.7M to about 7.48M - an increase of about 12% - (this was following the previous drill program) or about 784,000 extra mtus.

    So how do these mtu's translate/approximate to revenue ? There are many factors that come into play to translate to revenue but lets just look at the high level "value added" numbers arising out of the drill program i.e, put a high level value of the mtu's in the ground.
    Current APT price per mtu is around $340
    Page 20 on the Nov 9 resource update announcement suggests sales at c 75% of APT price which is around $255
    A very conservative price might be $220

    Even at $220 per mtu, an increase in mtu resource of 784,00 mtu's equates to additional sales of c $172 million (and we are currently cap'd at $85M)

    Following the more recent drill results as announced in the March 15 webinar and the Feb 13 "Iron Duke discovery and potential pit expansion" announcement, I think we are allowed to be a little excited about the prospects of another mtu increase of similar, if not better, magnitude.

    A Cairns Post article recently quoted Kevin as saying " ... there is potentially $3BN of tungsten in the Mt Carbine mine...."

    With only about 20% of the known tungsten resource able to be officially discussed, analysed, valued etc, this leaves the remaining 80% out there for conjecture - but as Tony has said heaps of times, this site is open at depth and in all directions and is not just one single system, this is a generational mine.
    The Nov 2022 revised mtu resource is 7,478,300 MTU's - you put your own price on the "ground value" of this alone - you may come up with a figure anywhere between $1.7 BN and $2.5 BN - but remember, its only about 20%

    So when the revised numbers are announced, check out how many additional mtu's it translates to - thats the key, because thats what really counts ! MTU's are $$$$ in the bank.

    Disclaimer: I refer only to "ground value" and do not consider recovery, grade, etc etc - just a ball park number to highlight the real beneficial message in those drill results and revised resources


 
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